Thank you very much for taking the time out of your busy schedule to attend our Financial Results Meeting. In the fiscal year 2022, we started in an uncertain business environment due to the lockdown in the Shanghai region of China, a worldwide shortage of power supply, and logistics disruptions. On the other hand, our performance improved significantly year-over-year due to the results of our efforts to improve sales quality and gross profit, which we have been working on since the previous fiscal year, and then also the currency exchange rate worked in our favor as well. The net sales for the Q1 increased 22% year-over-year to JPY 528.7 billion. The operating profit improved significantly year-on-year to JPY 30.8 billion due to the big contribution of new model launched in the previous fiscal year, normalization of sales activities, and improvements in mix and selling prices in the ASEAN market. The OP margin improved to 5.8%. The ordinary profit was JPY 49.5 billion due in part to the impact of foreign exchange rate. The net income was JPY 38.6 billion. The global sales volume increased to 217,000 units. Please turn to page four. This slide shows the operating profit variance between FY 2022 Q1 and the previous year. The volume and mix selling price combined improved by JPY 12.7 billion year-on-year. Mainly in ASEAN, Australia, New Zealand, and Japan, we saw an increase in unit sales and an improvement in mix selling price. With regard to the selling expenses, the incentives improved by JPY 5.6 billion, while the advertisement expenses increased in line with the plan, including for the introduction of new models. As a result, the total sales expenses improved by JPY 4.6 billion. The price hike in raw material cost and marketability enhancement deteriorated the material cost by JPY 14.5 billion. That was partly offset by the JPY 7.6 billion improvement generated through cost reduction activities. However, in addition to transportation costs, plant costs deteriorated due to operating losses associated with the Shanghai lockdown. As a result, the overall spend deteriorated by JPY 15.1 billion. The R&D expenses increased as planned to prepare for the introduction of new models for the next fiscal year. It deteriorated by JPY 3.8 billion year-on-year. In other sections, both other after-sales and subsidiary performance were better than last year, resulting in an improvement of JPY 4.3 billion. With regard to the foreign exchange rates, the yen depreciated in general, but against the U.S. dollar and Australian dollar in particular, resulting in a positive effect of JPY 17.5 billion year-on-year. In total, the operating income increased by JPY 20.2 billion year-on-year. Please turn to page five. Next, I would like to explain about our global sales volume for the Q1 FY 2022. Due to delays in the delivery of parts caused by the Shanghai lockdown, the production volume was constrained, resulting in a 6% decrease year-on-year to 217,000 units. Compared to the fiscal year 2021, there has been a significant decrease in Europe due to a decline in the model lineup and the impact of the shutdown of car supply due to the Russia and Ukraine issues and China, where economic activity itself had been stagnant due to the impact of the Shanghai lockdown. In the next page, I would like to explain the sales status of our core markets, North America and Japan. Please turn to page six. First of all, I would like to explain about our mainstay ASEAN region. In Thailand, the number of new infection cases of COVID has been decreasing since April, and the restriction of movement is gradually being relaxed. They have resumed accepting tourists as well. On the other hand, the shortage of semiconductors and other parts has not improved significantly, and this is affecting the overall automotive demand. We were affected by the parts shortage due to semiconductor supply issues and the Shanghai lockdown, particularly for our car models, Xpander, Triton, and Pajero Sport. The new Xpander launched this spring has been well received, and we have achieved top market share in that segment. Similarly, in Indonesia, in particular, Xpander has been severely affected by production constraints due to parts supply constraints and the Shanghai lockdown. However, the number of orders itself has been favorable, and we have prioritized to respond to the back orders. It is predicted that the supply of components will continue to be unstable. We will boost the sales of models and grades with less supply constraints while focusing on following up the customers who are waiting for our products. In the Philippines, where economic activities are starting to recover due to the relaxation of movement restrictions, the bank loan screening, which was a bottleneck for our sales activities, moving back to normalization. We saw a recovery in sales of Mirage since May, which was struggling with a stricter loan approval standard and new Xpander was also launched in May. As a result, the unit sales grew as well as the market share. In Vietnam, transportation demand has recovered, particularly for Xpander and Attrage, due to the revitalization of the domestic tourism demand and the deregulation. Of inbound travelers from mid-March. In addition, the market expanded significantly due in part to a last-minute surge in demand thanks to the government's economic stimulus measures implemented until May. After that, although there was a reactionary decline in June, it began to recover again. On the other hand, due in part to the impact of the Shanghai lockdown, we were unable to fully accommodate to the growing demand. Similarly, the Malaysian market is recovering steadily and our sales are also firm. Although we anticipate the demand will continue to recover in all countries, the outlook remains uncertain due to the consumer appetite impacted by the high crude oil price and higher consumer goods prices, which was triggered by the worsening of the Ukraine situation, and production constraints stemming from component shortages. We will continue to promote sales measures in each country while closely monitoring these factors. Please turn to page seven. In Australia, the overall demand was sluggish due to the persistent vehicle supply constraint. Our sales were focused on selling Outlander and Pajero Sport, of which we managed to prepare the inventories, and as a result, we were able to secure the unit sales volumes as well as the market share. The total demand for automobiles in New Zealand was robust for PHEV and EV models and other electric vehicles due to Clean Car Discount program. This was not enough to compensate for the decline caused by the billing system based on the carbon dioxide emissions launched in April 2022. In such circumstances, our market share increased year-over-year by strengthening the sales of the Clean Car Discount program subsidy models, Eclipse Cross PHEV model and Outlander PHEV model. Going forward, in Australia, we anticipate the risk of a decline in sales momentum due to a lower business sentiment and a drop in the consumer confidence index. Even in New Zealand, which is currently firm, an increase in the inflation rate is likely to cool down the consumer expectations. While closely monitoring the situation, we will minimize the impact of unit production constraints coming from the shortage of semiconductors and maximize the sales of new models. Please turn to page eight. Next, I would like to explain the current status of our North American business. In the North American market, supply of new vehicles has not caught up with robust demand due to delay in parts supply caused by shortages in semiconductors and Shanghai lockdown, resulting in sluggish total market demand. We have enjoyed strong sales of the new Outlander, and although we are prioritizing supply for retail sales through dealers, we are unable to accommodate the strong demand. These disruptions have caused our new vehicle inventory to continue to be at historically low level, and we expect that it will take some time to improve the supply and demand balance. On the other hand, due to the falling used car prices and a sharp rise in the interest rates, we need to closely monitor the risks of increased incentives and recession. We will continue to strive to achieve a shift to sales that do not rely on incentives by promoting our product competitiveness through further sales promotion of the new Outlander, which has achieved a monthly sales volume of more than 3,000 units for 13 consecutive months. Please turn to page nine. Finally, I would like to explain the status of our domestic market. Like in other countries, overall demand in Japan remained at a low level due to continued production constraints caused by the shortage of semiconductors and Shanghai lockdowns. In this environment, we had robust sales of the new Outlander PHEV model and the eK X EV, and the production delays improved more than anticipated. As a result, we had strong sales in the Q1. Going forward, while the business environment surrounding us remains uncertain due to the chronic shortage of the semiconductors and concerns about economic slowdown caused by inflation, we will strive to improve the quality of overall sales by maximizing the effect of strong sales of the new models and by focusing on improving the quality of customer service. Please turn to page eleven. This is our business outlook. In the Q1 of FY2022, we made a good start of the year, acknowledging that we were largely helped by favorable exchange rates. In light of the fact that the results of the Q1 exceeded our initial forecast, we have revised the full year forecast for the FY2022 as shown in the slide. We have revised our net sales from JPY 2.29 trillion to JPY 2.35 trillion, operating profit from JPY 90 billion- JPY 110 billion, ordinary profit from JPY 93 billion- JPY 120 billion, and net income from JPY 75 billion- JPY 90 billion, respectively. On the other hand, we anticipate that the unstable business environment that had been anticipated since the beginning of the year will continue for some time, and we understand that we need to factor in the risk of a global economic downturn. We believe that we must be adequately prepared for the uncertain future and therefore, we have decided to keep our initial forecast almost unchanged from the Q2 onward. We will continue to do our utmost to achieve our revised full year forecast by implementing each of the measures planned for the subsequent quarters without being satisfied with the current conditions. Please turn to page 12. The factors behind the change in the operating profit forecast for the fiscal year 2022 compared to the previous fiscal year are shown in the slide. Regarding the impact of volume and mix and selling price, although the impact of the vehicle supply shortage remains, we anticipate a total positive impact of JPY 67.6 billion by achieving the unit sales target, as well as improving the quality of sales as planned at the beginning of the fiscal year. With regard to selling expenses, we were able to curtail the incentive more than we had expected in the Q1. This gain, together with the advertising expenses to be spent as planned with consciousness about cost effectiveness, will result in a forecast of a JPY 6.8 billion decrease in profit. In materials and transportation costs, we will absorb the foreign cost of raw materials like semiconductors, partly through our procurement cost reduction activities. However, due to the increase of transportation costs and worsening of factory related expenses, we expect a total deterioration of JPY 82.4 billion. R&D expenses are on an increasing trend toward the introduction of new models scheduled for the coming fiscal years, and we anticipate a deterioration of JPY 11.3 billion. In addition, we assume an increase in personnel expenses and general expenses due to worldwide inflation, which result in a deterioration of JPY 25.1 billion. As you can see, the impact of exchange rate has been revised in line with the current level of exchange rates and an upturn of JPY 80.7 billion is expected. Please turn to page 13. Regarding the latest outlook for operating profit in the FY 2022, factors behind the change from the initial forecast are shown on the slide. Regarding the impact of volume and mix and selling price, although we do not anticipate fluctuations in sales volume, we are forecasting an upturn of JPY 8 billion by taking in the portion of selling price increase, which exceeded our projection. With regard to selling expenses, we anticipate an upturn of JPY 2 billion, incorporating the favorable result in the Q1. Materials and transportation costs are expected to deteriorate by JPY 10 billion due to the soaring cost of raw materials, including semiconductors. With regard to the impact of foreign exchange rates, given that the yen depreciated more than initially expected, we are forecasting an upturn of JPY 20 billion, including an upturn in currencies like the U.S. dollar and Australian dollar and a deterioration in the Thai baht. Please turn to page 15. The new Xpander, which was initially launched in Indonesia in November last year, has shown very strong order and sales and is highly regarded by many customers for its premium design and quietness of driving. The new Xpander is gradually rolled out in the ASEAN region with the launches in Thailand in March, in the Philippines in May, and in Vietnam in July 2022. The Xpander has been received well in all of these countries, and the positive responses from these markets have significantly exceeded our expectations. Please turn to page 16. The automotive industry as a whole is encouraging a broader use of electric vehicles toward the realization of carbon neutrality. Our answer to this trend is the new eK X EV. We believe that this vehicle should not be considered as a special vehicle, but should be an EV that is close to everyone's life and can be casually chosen. To this end, the EV was designed to be a Kei car that is easy for everyone to drive and handle, achieving a sufficient driving range for everyday use and equipped with advanced driver assistance system and connectivity, and was launched for full-fledged sales on 16 June 2022. Fortunately, we have been well received by many customers and orders as of 24 July 2022 exceeded 5,400 units, a pace that is significantly higher than our expectations. In addition, the Eclipse Cross PHEV and the new Outlander PHEV, which have already been launched, have also been well received by many customers. In order to realize carbon neutrality, we will aim for further dissemination in order to fulfill our responsibilities as a pioneer in electrified vehicles. Please turn to page 17. We recently signed an agreement with the MUFG Bank regarding collaboration for the realization of a carbon neutral society. The two companies signed the agreement believing that by combining the Mitsubishi Motors electrification technology and Kei EV lineup and the MUFG Bank's broad customer network and insights of a total financial group, we can create a social impact at the level which cannot be achieved by one company. Specifically, as an initial stage, the MUFG Bank will utilize its customer base and network to introduce to Mitsubishi Motors its corporate customers who are interested in our EVs, like the eK X EV and the Minicab MiEV. Promotion of electric vehicles is one of the effective means to advance carbon neutrality initiatives in Japan, and we believe it is important that this option should be considered not only by large corporations, but also more broadly by mid and small size companies. Replacing company cars with Kei EVs offering cost advantage can be a specific and accessible option for the customers of the MUFG Bank for the realization of carbon neutrality. Further, the Mitsubishi Motors will continue our efforts toward decarbonization throughout our supply chain, while receiving the wide-ranging solutions offered by the MUFG Bank and its affiliates based on the MUFG Carbon Neutrality Declaration. I would like you to understand that this agreement is not just collaboration for vehicle sales, but collaboration from a higher perspective. Please turn to page 18. Recently, the resurgence of COVID-19 has been confirmed in different regions, and in Japan, the seventh wave appears to be rampant. On the other hand, many countries are not imposing behavioral restrictions and our lives seem to be returning to normal. Nevertheless, in addition to the prolonged shortage of semiconductors, uncertainties about the future seem to be increasing as seen in the Shanghai lockdown in the spring, the situation in Russia and Ukraine, where there is no prospect for a resolution, rapidly advancing inflation, changes in monetary policy of the central banks, and concerns about an economic downturn. While it is difficult to navigate through such situations, we will always think about what we should do and concentrate on the top priorities so that we can make every effort to steadily achieve the plan. Thank you very much.